The Economic Group Monbat will acquire recycling facilities in Italy

– The licensed production plant in Brescia, Italy, will become part of the economic group Monbat

– The new acquisition will be integrated within Monbat Recycling becoming part of the newly established company Monbat Italy S.p.A. and will optimize the processing of used batteries from Western Europe

– The contract is expected to be signed until the end of September 2017 Sofia, 26.09.2017 The economic group Monbat has decided to acquire the recycling plant of Piombifera Italiana S.p.A. in Brescia, Italy, as part of its facilities’ geographical diversification. After the due diligence process has been concluded successfully, the acquisition contract is expected to be signed until the end of this month.

Established in 1978 in Italy, Piombifera Italiana S.p.A. is now one of the three largest battery recycling plants in the country. The licensed processing capacity is 70,000 tonnes per year and the plant will consolidate the capabilities of the recycling division of Monbat becoming part of the newly established company Monbat Italy S.p.A. The decision for the acquisition of additional recycling facility is a direct response to the increased demand for resources for the production of lead-acid batteries in Monbat AD and Start AD. As one of the biggest scrap markets in Europe, Italy is considered to be a proper location for the expansion.

“The market presence of Monbat in the countries of Western Europe traditionally is very strong and the supplementation with recycling capabilities on site will close the cycle and will facilitate the processing of scrap batteries. This is a logical decision for the economic group in the context of our striving to assure both sustainable economic growth and sustainable environment” comments Atanas Bobokov, CEO and Chairman of the Board of Directors of Monbat AD.

Tags: